Prevent and detect insider cyberattacks
Dishonest workers can initiate a cyberattack by stealing valuable information from your company’s computer network and using it for personal gain. They could be working for a competitor, seeking revenge for perceived wrongs or they may need money to pay gambling debts. You can prevent insider cybercrime by monitoring IT use, removing network access as soon as an employee is terminated and always treating workers fairly. And don’t neglect to protect physical assets such as paper records and computer hardware. Restricting your office’s Wi-Fi to those with special passwords is also a good idea. Contact us with questions.
The President’s action to defer payroll taxes: What does it mean for your business?
President Trump has signed a Presidential Memorandum to defer the employee portion of Social Security taxes for some people. The action only defers the taxes, which means they must be paid in the future. However, the action directs the U.S. Treasury Secretary to explore ways to eliminate the obligation to pay the taxes deferred. Employers have questions and concerns. For example, will employers have to withhold more taxes from employees’ paychecks in the future to pay the taxes back? Without a law to forgive the taxes, will employers be liable to pay them? What if employers can’t change their software by the Sept. 1 start of the deferral? Is the deferral required? Contact us with questions.
New COVID – 19 Relief Bill Now Signed into Law by the President
Includes New PPP Funding for Previous PPP Recipients that Qualify New Simplified PPP Forgiveness Application for up to $150K Loans After much discussion regarding various elements of the bill (including the dollar amount of stimulus payments and various funding initiatives mainly in the omnibus spending portion of the bill) President Trump did eventually sign the […]
Manufacturing faces talent problem heading into a crucial 2021
As manufacturing continues to lead both in statewide and nationwide economic recovery, the sector will still need to address a chronic issue that has only worsened throughout the COVID-19 pandemic. Talent shortages continue to dog manufacturers across Michigan as many companies have not been subtle about their desperate need for more workers. “We have employers […]
Post-pandemic supply chain shifts could boost state’s industrial economy
Michigan’s economy could stand to benefit in the years ahead as manufacturers move to reshore work to the U.S. after dealing with severe disruptions in their foreign supply chains when the coronavirus first surfaced in China. Reshoring industrial supply chains from overseas marks one opportunity that West Michigan has in 2021 and the years ahead, […]
How COVID-19 Will Alter the Evolution of Student Housing
The economic impact of the COVID-19 pandemic continues to unfold globally, shifting the way we conduct business and go about our day-to-day lives. Across all sectors of commercial real estate, we’ve seen a lot of change, from sanitation measures to limited in-person interactions and occupancy.
Bottom-Line Benefits: How to Know if a Self-Storage Preservation Project Adds Facility Value
Every self-storage facility needs maintenance and repairs. Aesthetics are often a primary focus, but what about the impact on expenses, revenue and property value? Learn how upkeep and improvements affect facility worth, and how to determine when a project makes sense.
The Balanced Scorecard approach to strategic planning
In the early 1990s, the Balanced Scorecard approach to strategic planning was developed to enable business leaders to better organize and visualize their objectives. It segments a strategic plan into four critical areas: 1) Customers; how can you attract and retain customers that will build the bottom line? 2) Finances; how will leadership and employees drive your financial success? 3) Internal operations; in what business processes must you excel to maximize productivity, 4) Knowledge sharing and learning; how can you provide continuing education and preserve intellectual capital? Contact us for help identifying metrics and incorporating financial analysis into your strategic plan.
2021 Q1 tax calendar: Key deadlines for businesses and other employers
Here are a few key tax-related deadlines for businesses during Q1 of 2021. JAN. 15: Pay the final installment of 2020 estimated tax. FEB. 1: File 2020 Forms W-2 with the Social Security Administration and provide copies to employees. Also provide copies of 2020 Forms 1099-MISC to recipients and, if reporting nonemployee compensation in Box 7, file, too. MARCH 1: File 2020 Forms 1099-MISC if not required earlier and paper filing. MARCH 16: If a calendar-year partnership or S corp., file or extend your 2020 tax return. Contact us to learn more about filing requirements and ensure you’re meeting all applicable deadlines.
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